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At the end of each year a self-employed person deposits $1,500 in a retirement account that earns 10 percent annually.
a) How much will be in the account when the individual retires at the age of 65 if the contributions start when the person is 45 years old?
b) How much additional money will be in the account if the individual stops making the contribution but defers retirement until age 70?
c) How much additional money will be in the account if the individual continues making the contribution but defers retirement until age 70?
d) Compare the answers to (b) and (c). What is the effect of continuing the contributions? How much is the difference between the two answers?
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white corporation, a closesly help personal service corporation has $150000 of passive losses, $120000 of active business income and $30000 of portfolio income. Explain how much of the passive loss may white corporation deduct
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BBX records interest at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2011, the fair value of the bonds was $370,000 as determined by their market value on the NYSE. Create the journal entry t..
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